retention strategies in mindtree
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RETENTION STRATEGIES
Presentation By:- Group 5
MEANING
Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time.
• MindTree Limited, formerly known as MindTree
Consulting Limited is a mid-sized
international information technology (IT)
consulting and implementation company.
• It operates in two units: production engineering
services and IT services.
• MindTree was started in 1999 by ten industry
professionals from Cambridge Technology
Partners, Lucent Technologies, and Wipro
MINDTREE
"Always Give Value To The Employees"
Team Organiation05 RETENTION STRATEGY OF MINDTREE LTD.
1nd strategy:- Offer
compensation
2nd strategy:- Train your front-
line, managers and
administrators.
3rd strategy:- Offer retention
bonus
4th strategy:-Teamwork and cross
functional team
5th strategy:- Fun is must
1st Strategy:- OFFER
COMPENSATION
"Attractive and competitive: fair
compensation alone does not
guarantee employee loyalty, but
offering bellow-market salaries making
it much more likely that employees will
look for greener pastures"
05 RETENTION STRATEGIES OF MINDTREE
2rd Strategy:- TRAINING YOUR FRONT-LINE,
MANAGERS AND ADMINISTRATORS.
• It can’t be said repeatedly that people stay or
leave because of their bosses and not the
companies.
• Create a safe environment and process for
employees to bring up
• Improve manager’s leadership,
communication and interpersonal skills
through coaching, training and feedback
3th Strategy:- OFFER RETENTION BONUS
• Mandatory vacation time after three, five or
ten years.
• A paid membership to a local club after two
years, and full repayment for the cost of the
employee’s formal dress
• Give employees a choice of reward
• Increase the longevity of their reward
4th Strategy:- TEAMWORK AND CROSS
FUNCTIONAL TEAM
• Make sure everyone understand the
department’s purpose, mission on goal
• Rotate leadership responsibility depending on
their employee’s ability and need of the team
• Involve employees in decision making
• They encourage team members to show
appreciation to their colleagues for superior
performance or achievement
5th Strategy:- FUN IS MUST
• Celebrate successes and recognition of
employees
• Lunch, birthday parties, employee picnics
and creative contests will help remind
people that an organization is a great
place to work
• The company organize culture programs
as and when possible but most of the
time, once in a quarter, in which all the
employees are given an opportunity to
display their talent in skits, singing, acting,
dancing, and sports programs such as
cricket, football, etc.